Texas-based energy technology manufacturer Generac Power Systems has completed the acquisition of a division of SunGrid Solutions Inc., PowerPlay Battery Energy Storage Systems, for an undisclosed amount on June 26.
SunGrid Solutions is an engineering, procurement and construction company for energy storage. PowerPlay provides turnkey battery energy storage system solutions for commercial and industrial projects up to 7 megawatt-hours.
PowerPlay will continue operations in Cambridge, Canada. Generac will also integrate PowerPlay as a research and development facility for Generac’s BESS solutions.
The acquisition allows Generac to provide “a more complete ecosystem of products and solutions to domestic commercial & industrial customers," said Aaron Jagdfeld, president and CEO of Generac.
Terms of the deal were not disclosed in Generac’s June 27 press release.
Recommended Reading
Diamondback Subsidiary to Invest $50MM in Verde Clean Fuels
2024-12-19 - Diamondback Energy subsidiary Cottonmouth Ventures LLC’s investment will consist of buying 12.5 million shares of Verde Class A common stock, making Cottonmouth the company’s second largest shareholder.
PHX Minerals Explores Sale After Rejecting Acquisition Bids
2024-12-13 - PHX Minerals hired bankers to explore a potential merger or sale of the firm, which manages assets across the Midcontinent and Haynesville Shale play. PHX has rejected multiple unsolicited acquisition bids in the past two years.
Asset Manager Buys SandRidge Stake, Looks for More Midcon M&A
2024-10-22 - Investment manager Third Avenue believes Midcon E&P SandRidge Energy is primed for M&A and a boost to shareholder returns.
‘Worried’ E&Ps Keep Merging as Shale Ages, Costs Rise—Kimmeridge
2024-10-11 - With just half as many public E&Ps around today as there were in 2017, Kimmeridge and Managing Partner Ben Dell think the E&P space still has—and needs—plenty more M&A.
Exxon: Longer Laterals, Cube Well Design Lowering Permian Costs
2024-12-11 - Exxon Mobil is boosting spending to grow global oil and gas production by 18% by 2030. U.S. rival Chevron Corp. recently said it’s cutting spending in favor of free cash flow.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.